Montecito Bank & Trust Makes New $752,000 Investment in HP Inc. $HPQ

Montecito Bank & Trust acquired a new stake in HP Inc. (NYSE:HPQ) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 27,604 shares of the computer maker’s stock, valued at approximately $752,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of HP during the 2nd quarter worth approximately $91,698,000. Qube Research & Technologies Ltd bought a new position in HP during the second quarter worth $74,385,000. Vanguard Group Inc. increased its holdings in shares of HP by 1.9% in the second quarter. Vanguard Group Inc. now owns 126,536,318 shares of the computer maker’s stock valued at $3,095,078,000 after purchasing an additional 2,395,056 shares during the last quarter. First Trust Advisors LP raised its position in shares of HP by 93.9% in the second quarter. First Trust Advisors LP now owns 4,874,334 shares of the computer maker’s stock valued at $119,226,000 after purchasing an additional 2,360,678 shares during the period. Finally, Schroder Investment Management Group lifted its stake in shares of HP by 76.2% during the 2nd quarter. Schroder Investment Management Group now owns 4,662,544 shares of the computer maker’s stock worth $114,046,000 after buying an additional 2,016,756 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

HP Stock Down 4.2%

Shares of NYSE:HPQ opened at $23.41 on Friday. HP Inc. has a 12-month low of $21.21 and a 12-month high of $35.28. The company’s 50 day moving average price is $25.69 and its two-hundred day moving average price is $26.04. The firm has a market cap of $21.49 billion, a PE ratio of 8.83, a PEG ratio of 4.58 and a beta of 1.22.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 25th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The business had revenue of $14.64 billion during the quarter, compared to analysts’ expectations of $14.50 billion. HP had a negative return on equity of 330.68% and a net margin of 4.57%.The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 earnings per share. HP has set its FY 2026 guidance at 2.900-3.200 EPS and its Q1 2026 guidance at 0.730-0.810 EPS. On average, research analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be issued a dividend of $0.30 per share. This is an increase from HP’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, December 11th. This represents a $1.20 annualized dividend and a dividend yield of 5.1%. HP’s payout ratio is currently 45.28%.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of research reports. Morgan Stanley decreased their price target on shares of HP from $21.00 to $20.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 26th. Hsbc Global Res upgraded HP from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Bank of America decreased their target price on HP from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Wall Street Zen cut HP from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Finally, Citigroup reduced their price target on HP from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, HP has a consensus rating of “Hold” and a consensus price target of $25.69.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 41,922 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $26.00, for a total transaction of $1,089,972.00. Following the sale, the chief executive officer directly owned 141,456 shares in the company, valued at $3,677,856. This represents a 22.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anneliese Olson sold 18,154 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $27.88, for a total transaction of $506,133.52. Following the completion of the transaction, the insider owned 169 shares of the company’s stock, valued at $4,711.72. The trade was a 99.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 111,084 shares of company stock worth $2,931,884 in the last 90 days. 0.38% of the stock is owned by company insiders.

HP Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.